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State Aid Updates & Upcoming Finance Trainings

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Posted in:  
Finance
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August 1, 2018

State Aid allocations showed an increase from $3,032.20 to $3,419.80 per WADM, and there are a few things to consider when evaluating the increase's effect:

  1. If you went up in WADM or are maintaining a high-year trend, this may give a false indicator of actually being more than the $387.60 increase per WADM due to the increase    in your WADM. Determine why your revenues went up if the increase was more than you anticipated.
  2. Even if your WADM did go up, it is still important to work to maximize your State Aid--the process doesn’t stop.
  3. It is a good idea to check your ADA against last year's to ensure state-dedicated revenues are not negatively affected or to prepare for a decline in those revenue sources.
  4. This is also a good time to take a census on your grade level student numbers to anticipate any changes for the 2020 or 2021 school years. We do have a format to help with this that will also predict population numbers.

We continue to help schools with calculating pay raises, so if you would like to have us work with you, please let us know so we can schedule some time.

The current state collections are still doing extremely well. We haven't published a July finance report due to OMES waiting to publish an end-of-year financial report. However, we will publish one as soon as we get the data. The State Treasurer’s report shows strong growth over the previous year’s collections. We also know that the 1017 Fund showed strong growth over the past two years. These are all positive signs for state-level education funding.

Also, we have scheduled encumbrance/treasurer trainings for FY19. If you would like to set up a training for you and other area schools at no charge, we will come out to you and even provide lunch. We do get the SDE's input on various points of emphasis for our training. The first one of the year is scheduled at Ft Supply on August 14. Register to attend!

We are also working to put as much board training online as possible. This is also free for members, and we will be adding all the required topics. This process does take a little time, though, so please be patient. If there is specific area that you think your board needs, please contact us and we will try to accommodate the request with an in-person training.  

About the Author

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Andy Evans

Director, Finance

Andy serves as the Director of Finance for the OPSRC.  In this role, he provides help in financial and business-related areas for schools. This includes budgets, managing cash flow, Estimate of Needs, federal programs and general service to aid in the effective use of district resources. Additionally, Andy serves as a resource in customizing budget spreadsheets, projection sheets, and other financial tools essential to administrators in maintaining their district’s financial health.

Andy is a graduate of Southwestern Oklahoma State University with a Bachelor’s of Science in Natural Sciences and a Master’s in Education Administration. Andy has served as superintendent at Mountain View-Gotebo and the Prague school districts.

Want to learn some fun facts about Andy? Click here!

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